Solar energy electricity prices has reached a historic low price, except in Serbia, where it is expensive due to feed-in tariffs

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Electricity from solar panels is in many cases more favorable than that produced in coal or gas power plants, and its price has reached a historic minimum, according to data from a report by the International Energy Agency (IEA). The price of electricity obtained from solar panels in many countries of the world is the lowest and thus the most favorable for consumers, however, this is not the case in Serbia, due to feed-in tariffs that significantly increase costs, the Danas newspaper states.

Through feed-in tariffs, producers of electricity from renewable sources are subsidized, which guarantees them purchase prices higher than the market ones. They can thus recoup the funds invested in investments and thus develop their business, given that the market for electricity from renewable sources in Serbia is in its infancy. In the end, consumers pay that difference, because their electricity bills have been increased by that amount, explains energy expert Goran Radosavljević.

The IEA points out that solar energy will take precedence in the next ten years when it comes to additional quantities of electricity, and that it will meet as much as a third of the world’s needs. The research of this agency shows that the average growth rate of the share of solar plants in additional electricity production will be 13 percent per year.

Radosavljevic told Danas that these are still estimates, but that they are completely realistic due to a number of factors when it comes to the advantages of producing electricity from solar panels in the next decade.

“Countries around the world offer benefits when it comes to the production of electricity from solar panels, which further lowers the cost. Also, producers of electricity from solar panels do not have to pay taxes that, for example, are paid by production facilities that generate phosphorus.” explains Radosavljevic.